It is similar to general partnership but with more benefits.

LLP can be said as a hybrid of private company and partnership, because of it’s features like :

  • Legal recognition
  • Association of two or more persons
  • Separate legal entity
  • Can own property on it’s name
  • Can sue or can be sued by others
  • And my other benefits and privileges provided by laws.

All the above features makes it attractive to the entrepreneurs, who does not have large funds to invest in start-ups.